Cabinet to take final call on listing of PSU insurers

The finance ministry had circulated a draft cabinet note for inter-ministerial consultations on the listing

GN Bureau | November 8, 2016

#New India Assurance   #National Insurance Company   #Oriental Insurance Co   #United India Insurance Co  

 The cabinet is likely to take a final call on the listing of public sector general insurance companies this month. Last week, the finance ministry had circulated a draft cabinet note for inter-ministerial consultations on the listing of four general insurance public sector companies, according to news report.

These companies are New India Assurance Company, National Insurance Company, Oriental Insurance Co and United India Insurance Co.
In the union budget 2016-17, finance minister Arun Jaitley had announced the listing of such companies. He had said, “...(proposed to) undertake important banking sector reform and public listing of public sector general insurance and undertake significant changes in FDI policy."
Also, last year the government allowed foreign insurance players to raise their stake in their joint venture to 49%. Earlier, only up to 26% FDI was permitted. There are 52 insurance companies operating in India, of which 24 are in life business and 28 general insurance.



Other News

Why do we need Aadhaar?

 Aadhaar is arguably one of the most convoluted public policy interventions in India’s history. It has been more than eight years, yet there is little clarity on the exact purpose of the biometric-based unique identification project.  Let me take you through an event which I witne

AAI signs MoU with Daman and Diu admin for maintenance of Diu airport

The airports authority of India (AAI), a Miniratna PSU, has undertaken operation, development and maintenance of Diu airport from Diu administration.    A memorandum of understanding demonstrating the responsibilities was inked on March 20 between the union terri

PSU performance: Better than expected

Central public sector enterprises (CPSEs) have done quite well despite facing headwinds, according to the Public Enterprises Survey (2015-16) that was tabled in parliament on March 21. The net worth of all the CPSEs have gone up and the overall net profit has zoomed. Their contribution to the cen

National Health Policy: Old prescription, new date

After much discussion and pondering over for more than two years, the cabinet has approved a new National Health Policy, scrapping the old one which was formulated in 2002. The government aims to increase the public health expenditure to 2.5% of the GDP by 2025. The policy formulated in 2002 aimed

It’s traumatic, says African student

  “We have requested more security from the government of India and the Uttar Pradesh government,” said Abdou Ibrahim, senior adviser, Association of African Students (AASI)  following an attack on four students from Africa in Greater Noida, Uttar Pradesh. &n

Is the BJP trying to split the Biju Janata Dal (BJD)?

Is the BJP trying to split the Biju Janata Dal (BJD)?


यूपी में नकल करने वालों की अब खैर नहीं

Current Issue


Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter